The Hale Group, Ltd., the foodservice industry's top strategy consulting firm today signed on to help introduce I-many's (Nasdaq: IMNY) new contract purchasing portal and program management technology throughout the foodservice industry. The Hale Group, which counts multi-national food industry giants like Nestle, Kellogg's, Tyson and Marriott among its clients, will assist I-many in bringing its powerful contract and program management systems to the foodservice market and will assemble and lead its foodservice industry advisory board. I-many's Web-based foodservice contract and program management solutions bring efficiencies and enhanced communications to manufacturers, distributors and national restaurant chain operators.
The Hale Group will work with I-many to determine how to develop and position its technology to foodservice industry needs. According to the U.S. Department of Commerce, the foodservice industry is growing at a rate two times faster than the retail food industry. As the market continues to explode, it will need to embrace information technology (IT) that streamlines business processes. Foodservice industry contracts and agreements are complex; with information collection taking place in multiple locations. Making sure that companies can collect and analyze this information in a timely, accurate, and relevant manner is critical to managing relationships and business decisions.
I-many's automated foodservice industry portal and B2B contract and program management solutions will transform contracts from static documents into virtual clerks who track key contract data and provide it to buyers, sellers and distributors to assist them in determining whether they're getting the most out of their business relationships. Foodservice manufacturers, operators and distributors can benefit from an automated system for managing the pricing, rebate and charge-back/deviated billing processes that complicate foodservice contracts and programs. The Hale Group will help I-many determine market needs and how to approach the industry with its foodservice contract & program management solutions. In addition, The Hale Group will help I-many identify and establish mutually beneficial partnerships that can enhance the technology and its distribution.
"The foodservice industry's rapid growth is causing supply chain participants to adjust their business practices to remain competitive. A major industry thrust is to create efficiencies throughout the supply chain by improving the quality and timeliness of information," said Bill Mason, managing director of The Hale Group. "The fax, the phone and paper are all necessary, but inefficient elements of managing contracts and programs in the industry today. I-many's technology can reduce those inefficiencies by automating contracts and programs to keep companies abreast of all of the vital information so that trading partners can more easily get the most from their contractual relationships."
The Hale Group is forming an executive advisory board comprised of industry leaders from the manufacturer, distributor and operator segments to counsel I-many on how to bring its foodservice industry portal and contract and program management solutions to market and how to expand sales. This board will also advise I-many on how to tailor the solutions to meet evolving market needs.
"The Hale Group is clearly one of the most respected foodservice industry strategy firms in the country," said Tim Curran, I-many's executive vice president for corporate development. "Their expertise will help us introduce the market to a better way of doing business and set a standard for bringing efficiency to the entire contract and program management processes."
About The Hale Group
The Hale Group provides strategic management consulting services to clients in the foodservice and related food industries. For more information contact Lisa Light, consultant, at 1-800-229-HALE (4253) or visit our Web site at www.halegroup.com.
About I-many
I-many provides software, Internet-based solutions and professional services that allow its customers to manage complex contract purchasing arrangements and facilitate business-to-business e-commerce. For more information visit the company Web site at www.imany.com.
This press release may contain forward-looking statements relating to the future performance of I- many, Inc. Forward-looking statements, specifically those concerning future performance, are subject to certain risks and uncertainties, and actual results may differ materially from expectations. These risks and uncertainties include the uncertainty associated with the adoption by companies outside the healthcare field of I-many's solution (including companies in the foodservice market), the acceptance by participants in the industries targeted by the Company of business-to-business Internet exchanges for the management of complex contracts, and competition for market share among the companies providing technologies and services similar to those provided by the Company.
The Hale Group will work with I-many to determine how to develop and position its technology to foodservice industry needs. According to the U.S. Department of Commerce, the foodservice industry is growing at a rate two times faster than the retail food industry. As the market continues to explode, it will need to embrace information technology (IT) that streamlines business processes. Foodservice industry contracts and agreements are complex; with information collection taking place in multiple locations. Making sure that companies can collect and analyze this information in a timely, accurate, and relevant manner is critical to managing relationships and business decisions.
I-many's automated foodservice industry portal and B2B contract and program management solutions will transform contracts from static documents into virtual clerks who track key contract data and provide it to buyers, sellers and distributors to assist them in determining whether they're getting the most out of their business relationships. Foodservice manufacturers, operators and distributors can benefit from an automated system for managing the pricing, rebate and charge-back/deviated billing processes that complicate foodservice contracts and programs. The Hale Group will help I-many determine market needs and how to approach the industry with its foodservice contract & program management solutions. In addition, The Hale Group will help I-many identify and establish mutually beneficial partnerships that can enhance the technology and its distribution.
"The foodservice industry's rapid growth is causing supply chain participants to adjust their business practices to remain competitive. A major industry thrust is to create efficiencies throughout the supply chain by improving the quality and timeliness of information," said Bill Mason, managing director of The Hale Group. "The fax, the phone and paper are all necessary, but inefficient elements of managing contracts and programs in the industry today. I-many's technology can reduce those inefficiencies by automating contracts and programs to keep companies abreast of all of the vital information so that trading partners can more easily get the most from their contractual relationships."
The Hale Group is forming an executive advisory board comprised of industry leaders from the manufacturer, distributor and operator segments to counsel I-many on how to bring its foodservice industry portal and contract and program management solutions to market and how to expand sales. This board will also advise I-many on how to tailor the solutions to meet evolving market needs.
"The Hale Group is clearly one of the most respected foodservice industry strategy firms in the country," said Tim Curran, I-many's executive vice president for corporate development. "Their expertise will help us introduce the market to a better way of doing business and set a standard for bringing efficiency to the entire contract and program management processes."
About The Hale Group
The Hale Group provides strategic management consulting services to clients in the foodservice and related food industries. For more information contact Lisa Light, consultant, at 1-800-229-HALE (4253) or visit our Web site at www.halegroup.com.
About I-many
I-many provides software, Internet-based solutions and professional services that allow its customers to manage complex contract purchasing arrangements and facilitate business-to-business e-commerce. For more information visit the company Web site at www.imany.com.
This press release may contain forward-looking statements relating to the future performance of I- many, Inc. Forward-looking statements, specifically those concerning future performance, are subject to certain risks and uncertainties, and actual results may differ materially from expectations. These risks and uncertainties include the uncertainty associated with the adoption by companies outside the healthcare field of I-many's solution (including companies in the foodservice market), the acceptance by participants in the industries targeted by the Company of business-to-business Internet exchanges for the management of complex contracts, and competition for market share among the companies providing technologies and services similar to those provided by the Company.
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